Energy and Ecology
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Oil and Gas Drilling and Exploration Companies
Key Energy Services Generated Third Quarter 2011 Earnings of $0.31 Per Diluted Share, Excluding Edge Transaction Costs
November 11th, 2011
Key Energy Services, Inc. (NYSE: KEG) generated third quarter 2011 income of $46.3 million, or $0.31 per share, excluding pre-tax transaction costs of $3.3 million, or $0.01 per share, related to the acquisition of Edge Oilfield Services. This result compares to second quarter 2011 income of $33.0 million, or $0.23 per share, excluding a pre-tax gain of $4.8 million, or $0.02 per share, related to the sale of the Company's equity interest in IROC Energy Services Corp. Third quarter 2011 GAAP income was $44.2 million, or $0.30 per share.
Consolidated revenue for the quarter was $501.3 million, up 12.6% compared to second quarter 2011 revenue of $445.4 million. Edge...
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Source: Energy and Ecology (2011-11-11)